In this episode of the Connector Podcast, we talk with Marissa Weiss from Performativ, a Copenhagen-based wealth management software provider. This conversation offers useful insights for financial advisors and institutions preparing for the Digital Operational Resilience Act (DORA), which comes into effect in January 2025. Marissa shares her expertise on how DORAedge helps firms build operational resilience and manage compliance with this new regulation.
One of the key topics in this episode is how DORAedge supports financial institutions in organizing their supply chains and identifying risks. Marissa explains that the platform allows firms to map internal systems and external providers, giving them a clearer view of dependencies and potential risks. The platform also includes AI-powered incident management tools to track and report issues efficiently.
The episode also explores the impact of DORA on smaller financial advisors and independent wealth managers. While the regulation applies to all financial entities, smaller firms benefit from DORA’s proportionality principle, which adjusts compliance requirements based on the size and complexity of the organization. Marissa emphasizes that DORA presents an opportunity for these firms to enhance their ICT risk management frameworks by reviewing outsourced providers and strengthening vendor agreements.
Marissa highlights the importance of continuous compliance beyond the January 2025 deadline. She notes that compliance isn’t a one-time effort but requires ongoing monitoring and risk assessment to maintain operational resilience. DORAedge offers tools to simplify this process, including automated templates for regulatory reporting, ensuring firms stay on track year-round.
Another key theme in the episode is Performativ’s broader offering as a wealth management platform. Marissa explains how Performativ provides independent wealth managers with a modular SaaS platform that integrates market, custodian, and sustainability data. This enables wealth managers to gain a complete view of their clients' portfolios while improving operational efficiency.
Looking ahead, Performativ aims to expand its reach across Europe, focusing on markets in the Nordics, DACH, and Benelux regions. Marissa emphasizes the platform’s adaptability, which allows it to meet diverse regulatory requirements and offer tailored solutions to different types of financial institutions.
The episode wraps up with practical advice for financial advisors preparing for DORA compliance. Marissa suggests starting with a review of outsourced providers and existing service agreements. She also encourages firms to take advantage of DORAedge’s trial period to explore its tools for managing risks and streamlining compliance. For Performativ customers, access to DORAedge is included, while others can try it for 7 or 14 days by visiting www.doraedge.com.
In summary, this episode of the Connector Podcast provides valuable insights for financial institutions navigating the upcoming DORA regulations. Marissa Weiss explains how DORAedge simplifies compliance while building operational resilience. Whether you are an independent financial advisor or part of a larger institution, now is the time to prepare for the changes DORA will bring.
Listen to the full episode here.